ICF International (ticker: ICFI, exchange: NASDAQ Global Market (.O))
News Release -
16-Dec-2009
ICF International Announces Completion of Public Offering of Common
StockFAIRFAX, Va., Dec 16, 2009 (BUSINESS WIRE) -- ICF International, Inc. (NASDAQ:ICFI), a leading provider of consulting
services and technology solutions to government and commercial clients,
today announced the closing of its public offering of 3,565,000 shares
of common stock at a price of $24.56 per share. The offering includes
465,000 shares sold following exercise by the underwriters of their
over-allotment option to purchase additional shares. All of the shares
in the offering were sold by the Company. Total net proceeds to the
Company were approximately $83.3 million.
The Company intends to use the net proceeds from the offering for future
growth, including possible acquisitions. The Company will do this by
applying the net proceeds to repayment of outstanding borrowings
incurred under its revolving credit facility. Such debt repayment will
provide the Company with debt capacity for growth initiatives.
William Blair & Company, L.L.C. and Stifel, Nicolaus & Company,
Incorporated served as joint bookrunners, and Canaccord Adams Inc.,
Stephens Inc., and BB&T Capital Markets were co-managers.
Copies of the final prospectus for the offering can be obtained from
William Blair & Company, L.L.C., Attention: Prospectus Department, 222
West Adams Street, Chicago, Illinois 60606, or by telephone to (800)
621-0687; or Stifel, Nicolaus & Company, Incorporated, Attention:
Prospectus Department, One South Street, 15th Floor, Baltimore, Maryland
21202, or by telephone to (443) 224-1988.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities. There shall be no sale
of these securities in any state in which such offer, solicitation, or
sale would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About ICF International
ICF International (NASDAQ:ICFI) partners with government and commercial
clients to deliver professional services and technology solutions in the
energy and climate change; environment and infrastructure; health, human
services, and social programs; and homeland security and defense
markets. The firm combines passion for its work with industry expertise
and innovative analytics to produce compelling results throughout the
entire program life cycle, from research and analysis through
implementation and improvement. Since 1969, ICF has been serving
government at all levels, major corporations, and multilateral
institutions. More than 3,500 employees serve these clients worldwide.
ICF's Web site is www.icfi.com.
Caution Concerning Forward-looking Statements
Statements that are not historical facts and involve known and
unknown risks and uncertainties are "forward-looking statements" as
defined in the Private Securities Litigation Reform Act of 1995. Such
statements may concern our current expectations about our future
results, plans, operations and prospects and involve certain risks,
including those related to the government contracting industry
generally; our particular business, including our dependence on
contracts with U.S. federal government agencies; and our ability to
acquire and successfully integrate businesses.These and other
factors that could cause our actual results to differ from those
indicated in forward-looking statements are included in the "Risk
Factors" section of our securities filings with the Securities and
Exchange Commission.The forward-looking statements included
herein are only made as of the date hereof, and we specifically disclaim
any obligation to update these statements in the future.
SOURCE: ICF International, Inc.
ICF International
Douglas Beck
703-934-3820
or
MBS Value Partners
Lynn Morgen / Betsy Brod
212-750-5800 |
ICF International
